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Cryptocurrencies Price Prediction: Ripple, Avalanche and Shiba – European Wrap 1 June

Cryptocurrencies Price Prediction: Ripple, Avalanche and Shiba – European Wrap 1 June
FXStreet TeamFXStreet TeamFXStreet

Forget the SEC v Ripple lawsuit, these bullish fundamentals can help XRP price breakout

XRP price is recovering after the massive downswing that has been going on for more than a year. Unlike many altcoins, the remittance token is taking its sweet time to rally higher. However, the company Ripple seems to be doing well despite facing a war on multiple fronts.

XRP

Two bullish thesis coincide that Avalanche’s AVAX price can double

AVAX price is consolidating in a downward sloping channel, hinting at a volatile breakout soon. However, if the bulls need a rest first, a minor retracement might develop, allowing buyers to scoop up Avalanche at a discount, before triggering the next leg higher.

Avalanche

Shiba Inu burn rate plummets with Ryoshi disappearance, SHIB could crash like Terra’s LUNA

Shiba-Inu-themed meme coin's burn rate took a hit after the mysterious disappearance of SHIB founder Ryoshi. Experts at Finder believe that Shiba Inu could crash like Terra, as the project lacks usability. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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XRP holds bearish bias despite spot ETF inflows

XRP holds bearish bias despite spot ETF inflows

Ripple (XRP) retains a bearish near-term tone on Friday, falling toward the psychological support at $1.00. This follows renewed inflation concerns in the United States (US) after the Federal Reserve (Fed) left interest rates unchanged, as two members of the committee dissented in favor of a 25 basis point hike.
Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

Crypto Today: Bitcoin, Ethereum, XRP edge lower despite renewed ETF inflows

The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.
US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

US sanctions Iran-linked Bitcoin insurance scheme for Strait of Hormuz ships

The U.S. Treasury has sanctioned two Iranian firms behind a maritime insurance operation that accepted Bitcoin, saying the scheme forced commercial vessels to buy coverage to pass through the Strait of Hormuz and funnelled the proceeds to the Islamic Revolutionary Guard Corps.
Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin Weekly Forecast: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.